Treasury & Cash Management Awards 2025: Systems & Services

Treasury functions are keeping up with the dynamic payments environment.

In an increasingly complex, volatile global financial landscape, advanced technology and strategic partnerships are assuming a critical role for corporate treasurers looking to manage financial health, enable sophisticated risk management, optimize operations, and gain data-driven insights. These innovations are shaping the future of treasury, ensuring businesses can navigate challenges and seize opportunities effectively.

Best Treasury FX Services | CTBC

CTBC excels in foreign exchange (FX) derivatives, offering both vanilla and exotic options including long-dated and target redemption forward. The bank is also Taiwan’s sole domestic provider of tailored, long-term, event-driven, deal-contingent hedges.

Responding to the renminbi’s growing prominence and increased FX risks, CTBC last year formed a dedicated renminbi task force to enhance sales and trading connectivity between Taipei, Hong Kong, and Shanghai, aiming to optimize trading efficiency and profitability in the currency.

CTBC also specializes in complex exotic derivatives. With dealing rooms in 11 countries, the bank has the most trading platforms among its Taiwanese counterparts. The Singapore branch coordinates regional client needs, leveraging local market understanding and regional hubs to offer a range of services from FX conversions to exotic-derivative hedging. This Asia-Pacific strategy has boosted product offerings, new business, and customer expansion. Along with its SOLAR treasury system, CTBC has developed Smart go, Taiwan’s first mobile FX trading application for corporate customers.

Best A/P & A/R Integrated Solution | Global PayEx

Global PayEx partners with 13 major financial institutions and serves over 500 organizations globally. Its AI-fintech software-as-a-service platform automates accounts payable (A/P) and accounts receivable (A/R) with a modular, scalable design intended to fit businesses of all sizes. The platform applies fuzzy logic to A/P discrepancy reconciliation. It uses natural language processing (NLP) to optimize deductions and customer sentiment in invoice processing.

Two hundred prebuilt configurations offer fast deployment, integrating seamlessly with enterprise resource planning (ERP) and banking systems. Self-learning AI models, powered by optical-character recognition and NLP, interpret a variety of invoice and remittance formats. A no-code/low-code architecture ensures zero downtime and supports high transaction volumes and future enhancements.

Global PayEx provides AI-based analytics and intelligence, including AI-driven dashboards for cash flow forecasting and tracking Days Sales Outstanding/Days Payable Outstanding/Days Delivery Outstanding, promising actionable, role-based insights. The platform’s embedded A/R and A/P financing stack integrates multiple banking and nonbanking lenders.

Best Treasury Management Software & Most Innovative Treasury Solution | FIS Global

Forward-thinking solutions, including AI-powered tools, are gaining traction. FIS Global won Best Treasury Management Software, and its new FIS Treasury and Risk Manager – Quantum Cloud Edition, won this year’s Most Innovative Treasury Solution. Their platform offers premier treasury software using cloud-native technology, enhancing liquidity and risk management through scalable, event-driven architecture and process automation that reduces operational risks and costs. It features industry-leading API integration and a no-code/low-code framework for customizing workflow.

In March of this year, FIS released Treasury GPT, an industry-specific, AI language model. Treasury GPT acts as an adviser, evaluating quantitative and qualitative data to provide recommendations, setting a new benchmark for proactive treasury intelligence, says Steve Wiley, vice president of Treasury Solutions. “In the case of our AI-based cash forecast, Treasury GPT can analyze data from that forecast and proactively make liquidity optimization recommendations,” Wiley adds.

Best Cash Forecasting Solution | HighRadius

Cash forecasting is a fundamental aspect of treasury management, crucial for strategic decision-making. This year’s award for Best Cash Forecasting Solution goes to HighRadius for its AI forecasting software, which boasts 90% accuracy, automated daily projections, and 12-month forward-looking forecasts for strategic decisions. This intelligent forecasting uses an agentic AI orchestration layer with integrated machine learning (ML) models.

“AI Agent selects the best ML model for cash flow, learns from data, tracks accuracy, flags patterns, and adapts to changes for better forecasts,” says Uday Narayanam, senior director of Strategic Initiatives at HighRadius. Treasury professionals can override system forecasts and model scenarios with a no-code user interface (UI).

“A no-code UI lets treasury teams model diverse scenarios, predict net cash flows, and run what-if analyses with snapshot comparisons,” Narayanam notes. The software also provides AI-powered forecasting for A/R, A/P, and working capital optimization.

Best Virtual Accounts Solution for Corporates | BNY

Virtual accounts are essential for optimizing cash management and reconciliation. BNY offers Virtual Account-Based Solutions with four main pillars: Virtual Account Segregation, Virtual Receivables Reconciliation, Virtual Liquidity Structures, and Virtual Bank Accounts for Financial Institutions.

Virtual Receivables Reconciliation speeds up matching by assigning unique virtual account numbers for real-time A/R ledger matching. Virtual Account Segregation enables seamless cash and transaction segregation without multiple physical bank accounts, creating unique virtual accounts for customized segregation or single-use accounts to reduce exposure risk. Virtual Liquidity Structures help multinational clients achieve their liquidity targets by automatically funding payments-on-behalf-of, collections-on-behalf-of, and in-house bank liquidity requirements for subsidiaries in real time.

Virtual Bank Accounts for Financial Institutions enable these institutions to set up virtual accounts for their corporate customers, facilitating efficient and cost-effective payments via US payment rails like ACH.

Once cash is managed and FX risks are controlled, investment management comes into play for optimizing short-term liquidity. Institutional Cash Distributors (ICD) takes the award for Best Investment Management Solution with its ICD Portal. ICD aims to help treasurers manage their short-term investments more efficiently, securely, and strategically, moving beyond manual processes and limited bank-specific platforms to optimize returns by achieving greater control and transparency.

Best Treasury Analytics Provider | ION Treasury

Analytics provide insights across all treasury functions. ION Treasury supports a global user base in over 200 countries, including Fortune 100 companies, across various sectors and multiple languages with cash management, back-office settlement, trading, and risk management services.

ION offers data visualization via dashboards and charts for trend identification and measurement of key performance indicators. It utilizes extensive data cubes and a robust data model to support global liquidity and risk exposure analyses, processing millions of daily records. The platform offers real-time visibility; a high-performance data feed; configurable-position data storage; a self-service, web-based UI; Excel/PDF report design; and automated report distribution.

Liquidity Hub, ION’s out-of-the-box cash management tool, enables users to observe, aggregate, and analyze cash data from multiple sources with minimal configuration. Event Hub centrally controls and monitors system events and automation, supporting real-time data for prompt treasury decisions. These functionalities leverage modern cloud technology for improved performance, stability, user experience, and API-led integration.

Best Open Banking Treasury Solution | Bank Mandiri

Indonesia’s Bank Mandiri offers enhanced treasury management through Kopra by Mandiri. A comprehensive suite leveraging open banking and modern API technology, Kopra provides integrated, efficient, and real-time solutions, especially via direct system integration through the bank’s Kopra Embedded Finance payment solution.